Miami Herald: "McClatchy drops to 14 year low"

From the Miami Herald:

McClatchy (MNI), publisher of The Miami Herald and El Nuevo Herald, dropped to its lowest level in 14 years -- $14.53 per share -- after Bear Stearns said the stock will underperform the newspaper industry, and Standard & Poor's cut its rating on the publisher's debt to BB. The junk rating, two steps below investment grade, reflects the Sacramento-based publisher's high debt and the likelihood of continued declines in revenue, S&P said.